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Essay / Research Paper Abstract
This 7 page paper looks at the trends and patterns in the crude oil market from 2005 – 2009, identifying the main producers, consumers, exporters and importers, as well as examining the main trade routes and discussing the movement of the price of oil over that period. The bibliography cites 5 sources.
Page Count:
7 pages (~225 words per page)
File: TS14_TEoilprod.rtf
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Unformatted sample text from the term paper:
supplies food packaging as well as in supported industries such as a major source of fuel for both transportation as well as energy production. With such an important role played
by the single commodity it is unsurprising that as the world develops and the population increases there are increasing pressures placed on oil-producing nations to increase the output, as well
as increasing concerns regarding the status of this exhaustible resource. When considering the period 2005 - 2009 there were some major changes within the oil industry, with areas such as
Asia seeing a significant increase as the industrialization of developing countries progresses. However, there are also some aspects of stability within the oil industry. When looking at the major producers
over the last few years there is a degree of stability, which reflects the locations of oil reserves an investment which has been made into the industry. Saudi Arabia has
remained the top will producer, followed by Russia and then United States, however there have been some other changes within the production of oil, with China increasing in its level
of importance and level of production, and Mexico sipping down at the table. In order to provide some comparison table below shows the top 10 producers of oil, comparing 2006
with 2008, looking not only the position in terms of being a major oil producer, but also the output that they create. The output is measured in millions of barrels
per day figures taken from US energy Administration (EIA) (2010)1 Figure 1 Major oil producers 2006 and 2008 (EIA, 2010) 2006 2008 1 Saudi Arabia 10.72 Saudi Arabia 10.78
2 Russia 9.67 Russia 9.79 3 United States 8.37 United States 8.51 4 Iran 4.12 Iran 4.17 5 Mexico 3.71 China 3.97 6 China 3.84 Canada 3.35 7 Canada 3.23
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